GFM Network News


Fading U.S. soybean exports threaten to expand stockpiles

There’s little sign China will be an enthusiastic buyer in the coming months

Reuters – It might take some extraordinary circumstances for U.S. soybean shipments to approach the government’s full-year target. Without an extended turnaround in export demand, U.S. soybean stockpiles could swell to the second-highest levels on record by September. China is likely the only country that could provide the needed lift to U.S. soybeans, but given

Nearly 16 million corn and soybean acres sat idle in 2019 due to the excessive rains.

Comment: U.S. farmers ramp up corn, soybean acres

The trend comes amid historically low futures prices

Reuters – New-crop corn and soybean futures on the Chicago Board of Trade have reached the lowest March levels in more than a decade with just a few weeks until the kickoff of the U.S. planting season. But despite the low prices, U.S. farmers are expected to boost acreage significantly over last year’s levels, which


Weak currency supports Brazilian selling

The weak real is seeing real returns for Brazilian growers rising as markets fall

Reuters – Brazil might not be harvesting soybeans at a record pace, but farmers there are certainly selling their crops at a much quicker clip than usual due to the weak currency and uncertainty over how the U.S.-China trade deal will affect their business. Brazil typically ships more than half of its annual soybean exports




U.S. soybean sales are at a 13-year low.

Comment: U.S. corn, soy sales at 14-year low

The dawn of the new U.S. marketing year comes with burdensome supplies and absent buyers

As the 2019-20 U.S. corn- and soybean-marketing years begin, the amount of product sold for export through mid-month is dismal, dampening the chances of trimming domestic supplies over the next year. Through Aug. 15, some 9.94 million tonnes of corn and soybeans have been sold to foreign buyers for shipment in 2019-20, down 55 per

Corn acres harvested for grain, which are more important to production than actual planted area, came in at 82 million acres.

Opinion: Resetting U.S. corn expectations after USDA’s acreage shocker

It would appear corn acreage actually 
is far higher than anyone expected

Reuters | Chicago – For the second time in less than two months, overly aggressive market expectations for the U.S. corn crop tanked Chicago corn futures August 12, when the U.S. Department of Agriculture published its latest round of reports. Analysts did not think it was possible for U.S. farmers to have planted as many

Cheaper wheat export prices out of the Black Sea have been increasingly sidelining competitors.

Market bears continue to nibble on wheat as large crops loom

It’s going to take something significant to spark a meaningful price rally at this point

Wheat traders breathed a sigh of relief in early March as Chicago futures rose, possibly signalling that the market is at least temporarily satisfied with recent contract lows. Speculators have piled into the short side of the wheat market in recent weeks, likely limiting further price falls. But bigger global crops on tap for 2019


Corn has recently been under pressure from big crop pegs out of South America and chart-based selling, as well as general uncertainty in the markets over the future of U.S.-China trade.

Comment: Long positions on corn liquidated

Funds sold their entire CBOT corn long position undetected during U.S. govt. shutdown

Within the span of six weeks, commodity funds dumped bullish bets in Chicago-traded corn futures and options without the market’s knowledge. Market participants were under the impression that speculators closed out January relatively optimistic toward the grains. However, data from the U.S. Commodity Futures Trading Commission (CFTC) confirmed otherwise on Feb. 19. Hedge funds and

Dry spell pares Brazil soybean estimates as crop ratings slide

This could cause concern for China that is doubly dependent on the country as trade relations with the U.S. have been frosty

Brazil has harvested two enormous soybean crops in a row and will likely make it a third straight in 2019, but the volume might not be as big as market participants were initially expecting and this could be of particular concern for the top customer. Brazil has helped pad supplies in No. 1 buyer, China,